China's liquefied natural gas (LNG) imports have shown substantial growth between 2013 and 2021, peaking at 109.89 billion cubic meters in 2021. This period featured high year-on-year variation, with notable peaks in 2017 and 2018, each showing over 40% growth. However, a downturn began in 2022, with a -15.2% drop followed by a -1.97% decrease in 2023, standing at 91.35 billion cubic meters. The compound annual growth rate (CAGR) over the last five years was 4.46%, indicating slower growth. Future forecasts from 2024 to 2028 project a continued decline, with a forecasted 5-year CAGR of -2.81% and overall reduction of 13.29% by 2028.
Future trends to watch for:
- Potential development in renewable energy sources and their impact on LNG demand.
- Economic policies and global market conditions affecting LNG trade.
- Technological advancements in energy efficiency and their potential influence on LNG consumption.